SiTime (NASDAQ:SITM) Upgraded at TheStreet

TheStreet upgraded shares of SiTime (NASDAQ:SITMGet Rating) from a d+ rating to a c rating in a report released on Monday, TheStreetRatingsTable reports.

Several other equities analysts have also issued reports on SITM. Credit Suisse Group assumed coverage on SiTime in a research report on Tuesday, November 15th. They set an outperform rating and a $135.00 price target on the stock. Barclays cut their price objective on SiTime from $130.00 to $96.00 and set an overweight rating on the stock in a research report on Thursday, November 3rd. Raymond James cut their price objective on SiTime from $240.00 to $120.00 and set an outperform rating on the stock in a research report on Thursday, November 3rd. Finally, Needham & Company LLC cut their price objective on SiTime from $125.00 to $115.00 and set a buy rating on the stock in a research report on Thursday, November 3rd. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $116.50.

SiTime Price Performance

SITM opened at $101.53 on Monday. The stock’s 50 day simple moving average is $87.95 and its 200 day simple moving average is $134.79. SiTime has a 1 year low of $73.10 and a 1 year high of $341.77. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 6.23 and a beta of 1.90.

Insider Transactions at SiTime

In other news, insider Lionel Bonnot sold 399 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $87.00, for a total value of $34,713.00. Following the completion of the transaction, the insider now owns 104,510 shares in the company, valued at approximately $9,092,370. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Katherine Schuelke sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $98.89, for a total value of $296,670.00. Following the completion of the transaction, the director now owns 17,916 shares in the company, valued at approximately $1,771,713.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lionel Bonnot sold 399 shares of SiTime stock in a transaction on Monday, November 7th. The shares were sold at an average price of $87.00, for a total value of $34,713.00. Following the transaction, the insider now owns 104,510 shares of the company’s stock, valued at approximately $9,092,370. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,026 shares of company stock worth $500,167. 1.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SITM. Polar Capital Holdings Plc purchased a new position in SiTime during the first quarter valued at $79,076,000. Two Sigma Investments LP raised its stake in SiTime by 16,539.2% during the third quarter. Two Sigma Investments LP now owns 299,506 shares of the company’s stock valued at $23,580,000 after buying an additional 297,706 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in SiTime by 78.0% during the third quarter. Frontier Capital Management Co. LLC now owns 611,837 shares of the company’s stock valued at $48,170,000 after buying an additional 268,063 shares during the last quarter. Trigran Investments Inc. raised its stake in SiTime by 61.2% during the third quarter. Trigran Investments Inc. now owns 690,841 shares of the company’s stock valued at $54,391,000 after buying an additional 262,313 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in SiTime by 1,896.9% during the third quarter. Renaissance Technologies LLC now owns 255,600 shares of the company’s stock valued at $20,123,000 after buying an additional 242,800 shares during the last quarter. Hedge funds and other institutional investors own 72.84% of the company’s stock.

SiTime Company Profile

(Get Rating)

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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